Merlin Chain’s Alpha Devnet development test network integrates Nubit data availability (DA) technology.
The Alpha Devnet development test network launched the Layer 2 solution for the Bitcoin Merlin Chain, incorporating Nubit data availability (DA) as an underlying feature. Thanks to this connection, users can now obtain pertinent data through the development network.
Bitcoin secures Nubit, a native-to-Bitcoin DA layer that upholds trust minimization principles. Nubit enables the scaling of Bitcoin’s data capacity, thereby enabling a variety of applications such as price oracles, Layer 2 solutions, and ordinals. This encourages the Bitcoin ecosystem to expand and improve by increasing its efficiency and range.
In a decentralized network, DA is the ability to get all transaction data for verification. It guarantees that every transaction in a block is available to every user on the network.
In March, Nubit and Merlin Chain partnered to integrate Merlin Chain with Nubit’s Bitcoin-native data availability (DA) technology. By combining Nubit’s native Bitcoin DA solution with Merlin Chain, this partnership aims to maximize the potential of Bitcoin by utilizing its native Layer 1 assets, users, and protocols.
Merlin Chain: What Is It?
As a solid foundation for applications built around Bitcoin, Merlin Chain is creating its own native Bitcoin Layer 2 platform, which allows safe, scalable, and effective transactions on the Bitcoin network. The platform’s total value locked (TVL) is currently $1.2 billion, according to data from DeFiLlama.
The project successfully completed a second round of investment in April, including contributions from IOBC Ventures, Hailstone Labs, Amber Group, Presto Labs, and Spartan Group, among others. To further increase its visibility and reach in the cryptocurrency market, Merlin Chain started listing on significant cryptocurrency exchanges and ran an airdrop of its token, MERL.
Recently, their mainnet made the bitSmiley stablecoin, native to Bitcoin, available. This deployment coincided with the Liquidity Grant initiative, which aims to improve liquidity by rewarding members of their community with the distribution of 3,150,000 BIT tokens.
